                                 CODE OF VIRGINIA

LOCAL INCENTIVES (§ 36-168)

A. In making an application for designation as a housing revitalization zone,
the applying locality or localities may propose local tax incentives, including,
but not limited to: (i) reduction of permit fees; (ii) reduction of user fees;
(iii) partial exemption from taxation of substantially rehabilitated real estate
pursuant to &#xA7; 58.1-3221; and (iv) use of public funds to improve living
conditions in housing revitalization zones such as code enforcement, public
safety, and infrastructure improvements. The extent and duration of such
incentive proposals shall conform to the requirements of the Constitution of
Virginia and the Constitution of the United States. In making application for
designation as a housing revitalization zone, such application may also contain
proposals for regulatory flexibility, including, but not limited to: (i) special
zoning districts; (ii) permit process reform; (iii) exemptions from local
ordinances as permitted under the Constitution of Virginia and the Code of
Virginia; and (iv) other public incentives proposed in the locality&#8217;s
application, which shall be binding upon the locality upon designation of the
housing revitalization zone.

B. A locality may establish eligibility criteria for local incentives for
qualified business firms and qualified owner occupants that are the same as, or
more stringent than, the criteria for eligibility for grants or other benefits
provided by this chapter.

HISTORY: 2000, cc. 789, 795.